The cash S&P 500 index made a new high today. The weekly and daily cycles are running on schedule without any anomalies. We have an 18-day first daily cycle, and a 20-day second daily cycle. The second daily cycle took 12 days to finish the bottoming process. That 12 sideways down days included the last five trading days in 2016, which statistically should have been up days. But because the last five trading days ran into a weekly alpha cycle and 2nd daily cycle down phase at the same time, it went down against the norm. Cycle does what it does, regardless.
This 3rd cycle top is due Jan. 11-Jan 19 2017. Multiple cluster data points project the cycle top to be around 2300. This top will be the weekly beta cycle top and the 3rd daily beta cycle top at the same time. After that we shall see the correction to last 7-11 weeks.